Posted To: Mortgage Rate Watch
Mortgage rates didn’t budge today. That’s impressive considering the amount of volatility in financial markets leading up to and following the European Central Bank (ECB) announcement. Markets widely expected the ECB to announce a new quantitative easing package today. That’s indeed what happened, but when it comes to European monetary policy, things are never as cut and dry as they are for other central banks that aren’t trying to balance the needs and laws of 19 separate countries against the economic realities and legal constraints of the broader Eurozone. If this sounds complex, that’s because it is. And that makes for wide-ranging reactions in financial markets. Not only that, but financial markets have this well-known habit of trading in advance of actual events based on expectations…(read more)
Via:: Mortgage Rates Hold Perfectly Steady Despite Massive Underlying Volatility
